GrainCorp Ltd. says Australia should adopt national biofuel mandates to bolster its energy security after the Iran war sent shockwaves through the country's economy. Australia currently imports around 91% of its liquid fuels and more than 85% of its aviation fuel, while exporting around 80% of its canola production, according to GrainCorp Chief Executive Officer Robert Spurway. GrainCorp says Australia has the potential to meet sustainable aviation fuel demand by 2030 with its current feedstock volumes, but more government support for investment, research and development will likely be needed in the longterm.
- GrainCorp is advocating for national biofuel mandates in Australia to enhance energy security, particularly in light of the Iran war's economic impact.
- The company highlights Australia's potential to meet sustainable aviation fuel demand by 2030 using its canola production, but emphasizes the need for government investment and R&D support.
- Australia's current reliance on imported fuels and its export of canola production are key factors driving the push for domestic biofuel development, with the government considering mandates.
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Tags: #graincorp #biofuelmandates #energysecurity #canolaproduction #sustainableaviationfuel #iranwar #australia #governmentsupport #renewablefuels
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